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THG has named Damian Sanders as its new chief financial officer (CFO), who assumes the role with immediate effect.
Prior to joining THG, Sanders was a senior audit partner at Deloitte for 20 years and a member of Deloitte’s North West leadership team, having also held several other senior management roles.
He is an FCA member of the Institute of Chartered Accountants in England and Wales and is said to bring “extensive” financial and commercial experience to his new role.
Sanders takes over from John Gallemore, who has been appointed chief operating officer (COO), and his appointment follows an “extensive” search both internationally and domestically.
According to the group, Sanders has an “in-depth understanding of THG’s businesses, people and culture”, having been a member of the board for the past two years.
He first joined as an independent non-executive director in November 2020, following which he was appointed audit committee chair and chair of the divisional reorganisation committee upon its inception in July 2021.
His appointment will reportedly enable Gallemore, who has been covering both the Finance and Operations functions until now, to focus solely on the role of COO and build on the progress he has overseen in THG’s global fulfilment footprint. Gallemore continues as an executive board director.
Sanders is said to have vast experience of the retail and technology sectors, working with entrepreneurs and high growth companies. He also has “extensive” experience of working with PLC boards, having acted as an audit partner and advisor to a significant number of FTSE boards for well over 20 years.
Following this latest appointment, Dean Moore will take on the audit committee chair and senior independent director roles on an interim basis.
Charles Allen, Lord Allen of Kensington CBE, independent chair, said: “On behalf of the board I’d like to thank John for his hard work and dedication as CFO of THG. Having effectively been undertaking two jobs to date, we are delighted that he will now be able to devote a singular focus to driving the operations of the group where his experience is invaluable.
“We welcome Damian to the business in an executive capacity. I have got to know Damian well since my appointment as chair, and his financial skill, commercial acumen and governance expertise means that he will hit the ground running.”
He added: “Damian has significant experience as a former senior audit partner and that, coupled with his wide industry and listed company experience, in addition to his in-depth knowledge of THG’s businesses and its people, will prove hugely beneficial to us as we continue to grow and build further on our corporate governance standards.”
Sanders added: “I’m delighted to be taking on the role of CFO at THG. I’ve got to know the business well in the two years since I joined the board and now look forward to working in an executive capacity to help drive the group forward as we continue to grow on a global scale.”
Gallemore concluded: “Since Matt and I set up THG 18 years ago, we’ve enjoyed an incredible journey and have grown the group into a truly global player, delivering record revenues of c. £2.25bn in 2022. I am pleased to be handing over the group’s incredibly talented finance team to Damian, allowing me to work more closely with Matt and the Divisional CEOs in capitalising on the significant commercial opportunities ahead.”
